— Theresa May’s cabinet approved the expansion of Heathrow Tuesday, with the prime minister telling her cabinet’s airport subcommittee that the decision was part of creating “a more outward looking Britain.” Foreign Secretary Boris Johnson, a long-standing opponent of the plan, said the new runway is “undeliverable.”

— Mark Carney, governor of the Bank of England, will speak before the House of Lords’ economic affairs committee at 3:30 p.m. local time, where he will expect to get a (slightly) easier ride than when he sits in front of the counterpart committee in the House of Commons.

— Britain’s objective in the upcoming Brexit negotiations is to secure a “free-trade agreement” with the EU,Theresa May appears to have confirmed. When asked by a backbench Tory MP in parliament if that was her government’s aim, May stood up and replied “I agree” before retaking her seat.

The operating assumption for many businesses is that even after a hard Brexit, Britain will copy most EU legislation into national law, at least in the first instance. This kind of peaceful transition won’t happen for fisheries.

Fish quotas are currently set by the European Council. It agrees the tonnage, or Total Allowable Catch, which can be caught within EU waters. Given that fish tend not to stay conveniently within national borders, quotas are also agreed with non-EU countries where stocks are shared. So from day one, decisions will have to be made, whatever arrangement Britain negotiates for its future relationship with the EU.

Fisheries might be one of the few sectors where Britain stands to do better than its counterparts even if it lets negotiations fail. Current EU quotas largely favor France over the U.K. Take the Channel: 8 percent of the cod quota, which is distributed by the EU, is reserved for Britain, whereas 84 percent goes to France.

If no agreement is reached, Britain could, under the UN Law of the Sea Convention, claim all the fish in its Exclusive Economic Zone, which covers 200 nautical miles from the coast. This would make much more fish available than currently allowed under EU quotas.

This strategic upper hand, coupled with Prime Minister Theresa May’s desire to talk tough, means lobbyists from Denmark, Germany and France fear fish will be made an example of. Bad news for the French in particular, where Northern French ports depend on access to British waters for up for 75 percent of their business.

But the future isn’t all clear for British fishermen. For one thing it is by no means certain that the EU will accept sectoral negotiations. The EU might just as well make concessions in another area conditional on British concessions in fisheries.

After years of grueling negotiations to steer the sector toward sustainability and timeless pushes, mainly by Britain, for the EU to end overfishing — Brexit could push fisheries back into the dark ages.

— In an effort to showcase the U.K.’s financial technology sector amid increased post-Brexit competition, the Treasury has decided to host a new international FinTech conference next year.

— Marmitegate seems to have done Unilever a favor. After the corporation had to back down over raising prices of household products, Marmite sales in the U.K. have risen by 61 percent in the week ended October 15 compared with the same period a year earlier, according to data gatherer IRI.

— “Manufacturers are optimistic about export prospects and export orders are growing, following the fall in sterling,” said Confederation of British Industry Chief Economist Rain Newton-Smith. While a new CBI poll showed export optimism in the U.K. has risen to the highest in two-and-a-half years, Newton-Smith said the weaker currency was also increasing companies’ costs.

— More than half of Brits believe tightening migration controls is more important than staying in the EU’s single market,according to a poll conducted for broadcaster ITV. The findings appear to contradict a survey carried out for Sky News last week, which suggested voters would like to see May focus more on trade deals with EU countries rather than curbing immigration.

— The number of U.K. firms in financial trouble fell 6 percent from the previous quarter in the three months since the Brexit vote, according to financial solvency advisory firm Begbies Traynor. The number is also 2 percent lower than last year.

— “I absolutely reject the idea of betrayal,” Michael Gove told the BBC Tuesday lunchtime when asked if he had stabbed Boris Johnson in the back following June’s referendum. Gove admitted he made mistakes during the campaign but said Britain was stronger outside the EU and denied being guilty of treachery.